HomeMy WebLinkAboutCity of Tamarac Resolution R-90-277Temp.Reso.#5949
CITY OF TAMARAC
RESOLUTION NO. R-90-oZ77
A RESOLUTION AUTHORIZING THE APPROPRIATE
CITY OFFICIALS TO EXECUTE AN AGREEMENT WITH
EMERGENCY ONE, INC., FOR THE LEASE -PURCHASE
OF A NEW HUSH XLT PUMPER FOR THE FIRE
DEPARTMENTi AND PROVIDING AN EFFECTIVE
DATE.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC# FLORIDA:
SECTION It That the appropriate City officials are
hereby authorized to'execute an Agreement with Emergency One, Inc.,
for the lease purchase of an Emergency One BUSH XLT Pumper at the
cost of $198,232.00 (five equal annual payments of $49,452.36, which
reflects interest at 7.85% per annuum, with the first payment on or
about June 1, 1992), a copy of said agreement being attached hereto
as "Exhibit 1".
SECTION 2: This Resolution shall become effective upon
adoption.
PASSED, ADOPTED AND APPROVED this / L day of j�Li: L 1990.
ATTEST:
CAROL A. EVANS
CITY CLERK
I HEREBY CERTIFY that I have
approved this �M�
ION as
to form.
ALAN F. RUP`
CITY ATTORNEY
321
34
3s
NORMAN ABRAMOWITZ
MAYOR
RECORD OF COUNCIL VOTE
MAYOR ABRAMOWITZ
DISTRICT 1: CIM ROHR
DISTRICT 2: -_CIM SCHUMANN__
DISTRICT 3: VIM HOFFMAN
DISTRICT4: CIM BENDER
_S,OR:
FOR COMPLETION BY LESSOR
r e One In -
Alwlys POW LOW W. �- 01086
1J15 W i
RrnW CommaIIa maven! Date:
)ak Brook IL 60521
$SEE: .
VEMDOR
stir: citv of Tmarae TL ;
Alarrhe
7501 N.W. 438th Amme -
fideirm:
!drains:
ty h Tamara+` 0ounty 4bft -
eft
xrtaat and Tlpe: Chie Mal Sriant A)aalaat and 1100
wapho e No, 305-722-7590 "1Ra4plhonalnlb.
`
' TID11
'QUANTITY "
" "Z.,
`` I IIPMENT IPTION (MKrlllsa tMalle, dM. fiaAtl Afa: slid M Altnolaaenb) -
1
1
One ti) je=Bracy Are xDdel Rush2hoper Tire Apparatus
-
_ .....
-,40matedan ism 1KW6 •RYab AlRW=t-ViY-i"sir .p. - "• '
OCATION OF.£OUIPMENT
IF OTHER THAN ABOVE ADDRESS OF LESSEE. - -- -.
,ddrass: -- Y
ty _ Data
LEASE TERM
SOUL EQUIPMENT COST
'11 ENT DUE (Period)
tfloathlhtoLtt+Ta>:fF RENTAL PAYMENTS
_
t
V .•.
061onthly 41N Amelly
attached
'a,n nis„"
5 Years "MOM
n Gwrerrly imIn Arrear
rway ent Schedule-).
° VLORIDA MUNICIPAL LEASE AND OPTION AGREEMENT
. *WW larroby'laaaaa to Lassa Ow Equipment hu Ira
ptnpo w and upon the toNowinp lmarfrld and obnditiona:
MTtCLIe t CDYeNA11ra DF LIStEE Lear. rprsMrM wwwrt end warim for
-11111TICLE EN I OF Law IMM.
-The Original Term of this Agresmsnf Mall commarm on the date the Equipment Is
Ow benstt of Lessor as follows:
I Id by Loepe as Indicated on the C tilloste of Aceepta("CDmmancement
A. Ummo is a public body, corporate and politic. duty organhod and existing Under
") Gaol MtaN Irrnukeb the loot day of Lamers current fiscal year. Forgo duration
Ow 0orndtution and Wes of the State as art forth above ('Bfals") and will do or Cause
to be done all things naossury to preserve and beep in hull force and elect he axis-
d ti o Lento Term. tint Agreement will be avkwwticslly Mrawod at the end d the
tenon in a body corporate and politic.
Origftt TOM andwW Arruwal Tenn unless the Lwow picas written optics to Lpeor
ono► less than MI (9D) days Prior to as and of Nos Original Term or Renewal Term
S. Lowe has been duly authorised to execute. defiver and perform this Agnaman
whaler the Constitution end laws of tins State and under ones toreros and proviaiI of
Ilion in sand of Lepee's Msention toarmkeb this Agncrhern pursuant to 001016 V
`
Mho resolution of Ma gohremkg body, or by other appropriate offioil approval• Lessee
Ire cue shay be.
+tether ropnpnt, coanrnts and warrants that all requirements have been mot, and
procedures have 000urnd in order to ensure the errlproeability of Otis AgMamerht.
#jrn=ft SMXnjCTIDN. Lmoor Mere are Me+ght at aN remeorabb times during
Lasses Mall cacao to be executed an opinion of its counsel in km rceeplMM to
"twirhsa hour to enter krto and Upon to pop" of Lsaaae for the purpose of in-
Lessor.
-ephrctirhp tins Equlprrhent.
C. During the term of this Agnernent, to Equipment will be usell by Leap only for
_ r
the purpose of performing onri yr more governments; or proprietary hxwfione of
a - _ •"
Lasses consistent with the permissible scope of Ergot's authority end will not beJWRKU
V. 111111/1T N1YMIENT=. r
and in a trade or business of any person or entity ether than the Loom.
*was Sit a" payrnrhte M amoshrte a Olvem l Naperw of Leaves. Lessor and
D. During the period twin Agnamant is in force, Lases wig annually provide Lenaw
Laeas UNWiftnd and intend l WIM Vblfgation of Lager to pay Rent Payments
with current financial stplarwt, budgets. prod of appropriation for Mhc raving
ieraundM shell cdrrstMnrte s ohaharht orhaa of Lena and shall not in any way be
llacal year and such other financial information Misting to the ablllty of Lmope to
rponstrued b be a debt of Lows M o&*ov lion d any applicable constitutional or
ponfinue ibis Agr n cad as may be ra sorably aWiabd by Lamm.
aWh#Wy " 'W' m W wquireawMs concerning the aestkm of badsbtedness by
E. The fi puipeont in. and Mall remain during the period this Agnomard M In force,
jAplao, floc vlydl w4VI kq carht•I herein owwdsrb a PNdge of the general tax
person propory and what subject to use by Lean vender als Agreement, will root
haft or rtncPerhier of Lour Weidw Mho Lessee, the slab of florl+ds. nor, any
l
1rerAeh;arne Klures.
.1wenup,
�hal subdividlon MNMot ahll.6e ablVeled topay any Gunn due t0 Leceor (hers-
AD VALOREM texas. '
� I* fp@r1ll'IbNL Tto lolic forms will buns Miss irMrhMngd Ilritosaeid
�°wa i� �» � Anal /dyardels i,saua aihall pay d Anard Pryrrhoes eonc oath in
•Anion lappy alelfahb boI so Laaror is N o owunle send ar►. the dnlu that forth in
Aglow hahisM Cave corAexl elderly raqubee pporwtu: -
Vla fly W,t f hadule selaeehed io tNc Agreement A portipn d Mcth licrht f aynherht
'+saes Tdrm' anwhc the Original TWOR I flrhod in Article M Marred am a edlf leMuht
i paid sib and lapeamehis pl>IgmK lrwruoes
jeember of awbnatc IMewd Tarmr as will caatlMAe pe maaeer sl warms set loath
vest paid When dus stall benrt4oft to past due lift at to Mb of 111% per annum
•en rig laoo of this Agreement.
'Japer' salonsts ens Iamply dsMprird to Soam of Eft AwmamM as Lmm fee-
,rr Ue trlglhoat tale pefnhltted by low, whidw wr M fps. Nol dowtar dung any other
0 Weiorh of phis agromment end under any and all drvinvaanors. Lamm is obligeted
ender.
-Wwd a peter' Nedra the amounf Lessee W", LW", at Me aptan,�y b Lsasor, In
•ye pry 1nMMM to Uww an the pa+olap pdoe (Mmstnkhg balance) at the par amwrn
a*-; pill I nrnt agriararht'for loch day Mb egimew jwnmkw in Wbct_AnAuch
are th Alder tip putate Equipment, as Cal forfi In It" Pll mlim A 1e110duM adsactud towest
shell be duo Im amps tely aeon farmhnMbn pf this lee.
this 1lgnsrrenf, sh*)W to the terns of Article IX. -.
-Isnmd Taah(s)' amen to sufomatic Mrewai periods of mis AVNMWIL each
6
bmlilime LISS dart laaaeb fo Ia t m=WANNL AUNM w Section,5.05, to oliga-
%an atLr . ID WAka prynert d 1Nrnt Psprrwhss end filar paymaMs required ►miler
ihoMrng s duration of are (1) Year op-lornhinout with Levee's food yea► MONO the
,� Agreement � be sbaWulr and raeanditanai in an evahte. L! shall make
left of such automatic h a Is - M forioae W 190 SW end an OW eennihrerderr d the
4jinmar" ent Date.%nW terra and e+orh WWW du1Mp UN RaewM Tartu e1a11 �e
all ! men pth+d doll ^Cat any nrams a mourn of
71e same u the terms and canndowo, dukng tie Origin el Term, woo tent In Ran
LessoWithr. an kx r to r
aw dwpulas a�Ml arrhahp LepM send lesac r, iraY Varhutar or eihy glfher porcon, nor
- *1101 doll base provided in tee aMaolhad Ray MO Sa1114 .
=Mali AasMo saran ergs 0WM a eeF a a amun mdom apslewt it siphon to make
ftsad a wrens to manuiecbnr of to f**Wwn as swell as 1st agaves wclones
a" peyhrarrris or be 0 RIO into eery abalmoo n of such payment M a Mull of acri-
'
d Moe manvhdunr.
4/m car erMdseliaen droharaAlnncu. — ^
01
THIS AGREEMENT IS SUBJECT TO THE TIr,iilutS AND OONDIT10MS fnRINTED ASDVE AM -0N WapgW81I WHICH -ARE MADE A PART HEREOF.
OZZZPTED AT:
- ~J
A
p r I ►Y TMe ADmEFT
..
One,Y'
1r of 3timllx c ' ' n
;. ==rgenr-y
(Lepor)
OA� as
a siI shah hetoo MM )�
frhrahNe�hweso '"'
By:
Title:
By:
. 8U 3 U-G
Information Return for Tax -Exempt Governmental Obligations
October 1989)
* Under Section 149(s)
OMB No, IS45W20
rtmerM of the Treasury
► I" Instructions
B,"Pirre 541-92
nal Revenue Service
(Use Form 5038-GC 0 the issue price is under $100,000)
�&Keportlnz
Authority
Check box if Amended Return ► Lj
issuer's name
�_#�'^td''u^^u"'�r
City of Tamarac, FL
l Number and street
r, Aftport number
7501 N.W. 88th Avenue
_ 4..
i City or town, state, and ZIP code
6 Data of issue
Tamarac, Florida 33321
Name of Issue
0 copNumber
.LZpc ur issue cnectt vox es xnat applies ano enter the Issue Price
9 Check box if obiigallorfs are iax or other revenue anticipation bonds ► ❑ p
.0 Check box if obligations are in the form of a lease or installment sale ► 131
3 ❑ Education . . . . . . . . . . . . . . . . . . . .
:2 ❑ Health and hospital . . . . . . . . . . . . . . . . . . . . . . . . . .
:3 ❑ Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . .
.4 Publicsafety . . . . . . . . U98,232.06
:S ❑ Environment (including sewage bonds) . . . . . . . . . . . . . . . . . . . .
.6 ❑ Housing . . . . . . . . . . . • .
t7 ❑ Utilities • . . . . . . . . . . . . . . . . . . . . . . . .
IS ❑ Other. Describe (see Instructions) ►
ZULU Descri tion of Obligation
(d) (r)
MatvM) ate Interest rate issue price !haled redemption weighted 1h Net interest
_rice at maturit every a maturityVold Cost
19 Final maturity 8.56 $198 232.00 $ 32 449.62
20 Entire issue . $198 232.00 $198 232.00 4.96 ears 8.5696 8.506
Uses of Original Proceeds of Bond Issues(including underwriters$ discount
21 Proceeds used for accrued interest . . . . . . . . . . . . . . 21
22 Issue price of entire issue (enter line 20c) . . . . . . . . . . . . . , . . . . 22
13 Proceeds used for bond issuance costs (including underwriters' discount) . 23 F
24 Proceeds used for credit enhancement . . . . . . . . . . . 24
25 Proceeds allocated to reasonably required reserve or replacement fund 25
36 Proceeds used to refund prior issues . . . . . . . . . . . . . 6
!7 Total (add lines 23, 24, 25, and 26) . • • . . . 27
M Nonrefundin proceeds of the issue subtract line 27 from line 22 and enter amount here
20
Description of Refunded Bonds com lete this part only for refunding bonds
!9 Enter the remaining weighted average maturity of the bands to be refunded . . . . . ► ars
30 Enter the last date on which the refunded bonds will be called . . . . . , ►
31 Enter the dates the refunded bonds were issued ►
Miscellaneous
12 Enter the amount of the state volume cop allocated to the issue . , . •
13 Enter the amount of the bonds designated by the issuer under section 265(bx3XBXo)i (111) (small
ksuer wzaption) . . . . . . L . . . . . . . . . . . . . . . . . •
14 Pooled financings: .
a Enter the amount of the' proceeds of this issue that are to be used to make bans to other jovemmental units ■
b Check box If this issue is a ban made from the proceeds of another tax-mmpt issue Is -El and i mter the name of the
isst►er ► and the date of the issue is -
Under penan.es Of perµrry. I declare that 1 have eramrrad this slum and aOt:pw*w "Kt*dW" and slatan gnis, and M #a bast el my buwb* and Mlal,
they are true: correct, and cafnplele
'Jesse
sign
acre `Senalureofofficer
Ogle ' To* a prim mania and title
or Paperwork Reduction Act Notice. see page 1 of the Instructions. rom 8038-G (aar.10-g9)
e w.r.-eww.,.«e eefuraMt am«r tin-sat•LSLnaotr
T
2-�jDaZT7
,r,,, go 3 $.G
Information Return for Tax -Exempt Governmental Obligations
ter. October 1989)
.► Under section 1490)
OMB No.154W20
Iwnment of the Treasury
• sea Separate Instructkms
gq*n 5-31-92
:erns, Revenue 5emee
(Use Form B038-GC If Via issue price is under $100,000)
Reporting
Authority
Check box it Amended Return ►
Issuer's name
! M4wer's e ntpioyeridianrwnnba
City of Tamarac, FL
Number and street
number
7501 N.W. 88th Avenue
G1991_
Crty or town, state, and ZIP code
6 oate of issue
Tamarac, Florida 33321
Name of issue
A CUSIP Number
— rasua s. v— vvASv*1 snag applies ano enter tine issue rrice
9 Check box if obligations are tax or other revenue anticipation bonds ► ❑ am prim
O Check box if obligations are in the form of a lease or instaliment sNe ►
1 ❑ Education . . . . . . . . . . . . . . .
2 ❑ Health and hospital . . . . . . . . . . . . . . . . . . . • • • • • .
3 ❑ Transportation . . . . .. . . . . . . . . . . . . . . . . . . .
4 ® Public safety . . . . . . . . . . . . . . . . . . . . . . . . , •
00
5 ❑ Environment (including sewage bonds) . . . . . . . . . . . . . . . . .
6 ❑ Hcusing . . . . . . . . . . . . . .
7 El Utilities . . . . . . . . . . . . . . . . . . . . . . . . . .
8 ❑ other. Describe (see Instructions) ►
Descri tion of Obligations
(a) (b) (s) f� (s) (s)
Seated redemption Weishud Net interest
Matunt date Interest rate Issue price Ice at rtatur' 1vlre mat. Yield Cost
9 Final maturity 7.85 $198, 232.00 $ 45 852. 91
O a Entire issue . . $198 232. 00 $198 232.00 3.1 are 7. 85 96 7. 85%
Uses of Ori anal Proceeds of Bgnd Issues includinz underwriters' discount
i Proceeds used for accrued interest . . . . • . . . . . . . . . . . . . . . . . . 21
2 Issue price of entire issue (enter line 20c) . . . . . . . . . . . . . . . . . 22
h
3 Proceeds used for bond issuance costs (including underwriters' discount) . 23
4 Proceeds used for credit enhancement . . . . • • . , . . , 24
5 Proceeds allocated to reasonably required reserve or replacement fund 25
6 Proceeds used to refund prior issues . . . . . . . . . . . . . . $
7 Total (add lines 23, 24, 25, and 26) . . . . . . . . . . . . . . . . . . . . 127
8 Nonrefundin proceeds of the issue subtract line 27 from line 22 and enter amount here
Descri lion of Refunded Bonds com lets this art onlyfor refundin bonds
9 Enter the remaining weighted average maturity of the bonds to be refunded . • ..�
0 Enter the last date on which the refunded bonds will be called . . . ^, Y
Miscellaneous
2 Enter the amount of the state volume cap allocated to the issue -
3 Enter the amount of the bonds designated by the issuer under section 265(bX3XBXiXIIq (small
issuer exception) . . . . . . . . . . . . . . . . . . . . . . . . . . . . •
4 Pooled fiiancings:
a Enter the amount of the proceeds of this issue that are to be used to make loans to other govemnwbl units ►
b Check box if this issue is a ban made from the proceeds of another tax-exempt issue ► ❑ and enter the name of the
un"t penthes of parwa. I declare that I sous wsstrstad the ntum and atxarnpenyelg Whildulss and ttatainel s. area to Via rest of W4 wlalrL is and
they ere true. correct. and complete.
kale!
inn
k)4
!r!
51r w re of of+rcrr
Dote Type a print tparr* and title
w Paperwork Reduction Act Notice, see page 1 of the Instructions. ream 8038-G otw. to-89)
sus.•e.s..ae tresses serseel loop-esa-InAN1!
01
Effective December 31, 1988, IRS Form 8038-G must be filed for each issue of
tax-ezempt Wmernmental bonds of $100,000 or more. In this transaction, you,
as Lessee, are the issuer.
This form is for information purposes only, I= IT AM= BE FILRD. '
We have filled in the form, ezcept for signature (at botU=) and issuer's
employar ide:,L ZIcation number (Part I, Line 2), and issuer's report number
(Part I, Line 4). If this is your first filing of a Form 8038-G this year,
your report number Mould be 1990-1.
Please have an authorised representative sign the form, fill in the
remaining information Part I, Lines 2 i 4) , and return it to Federal Signal
Leasing. We will file It with the IRS.
Your cooperation is sincerely appreciated.
zt
~ Yr
W.
PAYMENT SCHEDULE
Lessee: City of Tamarac, FL
Number and frequency of payments:
Five (5) annual payments in arrears.
Interest computed at 7.85% per annum.
Payment
amount
Total sales price
Trade-in
allowed
$0.00
Down payment
0.00
Payment
1
49,452.36
Payment
2
49,452.36
Payment
3
49,452.36
Payment
4
49, 452.36
Payment
5
49,452.36
Totals $247,261.80
Lease No. M-01086
5�
i
Payment amount applied to
Interest Principal
$15,561.21
12,900.76
10,031.46
6,936.92
3,599.45
$0.00
0.00
33.891.15
36,551.60
39,420.90
42,515.44
45,852.91
$49,029.80 $198,232.00
zzz==M=aaa z=====rasters
Purchase
price
(remaining
balance)
------------
$198,232.00
198,232.00
198,232.00
164,340.85
127.789.25
68,368.35
45,652.91
0.00
Balances not paid when due shall be subject to past due interest at
the rate of-18% per year or the highest/rate permitted by law,
whichever is less.
Interest accrues daily, at the rate indicated above, on the
outstanding principal balance (listed in •Purchase price" column).
Emergency One, Inc.
.-
' Lessor" e.�►�-..'
By *._...............���...,............�. _
Tit le: �..... __ ,,_,,.,----,,,_--
LESSOR: �J�O — 1 '] FOR COMPLETION BY LESSOR
III"Always Refer to Leese No. M- �1
LS W. 22" St. Soft* 1U* Rental Commencement Date:
Awk
LESSEE: VENDOR:
Name: at y 40 e I.
Address: 7MI Z.W. 4M `rtrtiiii/
city A unty State I" Zip "M
Contact and Title:
Wephone No.
305-722-7590
ITEM 1 OUANTITY
Name:
Address:
city Stste zjP
Contact and Title:
Teiepltone No.
EQUIPMENT DESCRIPTION (include Make, Model, Serial No. and all Attachments)
1 I 1 I it (1) a 0 3 ess "Wh1 amb !WWW ltm Affantm
t�tflti� r m XM ftA Wbert-G& CbmwiS
LOCATION OF EQUIPMENT IF
Address:
THAN ABOVE ADDRESS
City
County
State
LEASE TERM
TOTAL EOUIPMENT COST
RENT DUE (Period)
NOJAMOLINT OF RENTAL PAYMENTS
5 gears
tiomm
sj
0 Monthly MAnnnually
0 Quarterly
fires p.y�,t whsduie attached
s hereof
INSURANCE COVERAGE REQUIREMENTS
M accordance with Section 7.03 of the Municipal Less and Option Agreement referred to above ("Agreement"), we have instructed the
insurance agent named below (please fill invam ,addomandlslspMsin"
RAVE MARCUS') A
GALLAGHER BASSETT
8355 N.W. 53rd Street
to issue Miami, Florida 33166
a. All Risk Physical Damage Insurance on the leased equipment evidenced by a Certificate of Insurance and Long Form Loss Payable
Clause naming Lessor designated above and/or its assigns as Loss Payee. Coverage required: Full replacement value
b. Automobile Liability Insurance evidenced by a Certificate of Insurance naming Lessor and/or its assigns as an Additional Insured.
Coverage required: $1.000,000 combined single limit (bodily injury and property damage)
OR
,!,"Pursuant to Section 7.03 of the Agreement, we are self -insured for all risk, physical damage, and public liability and will provide proof of
such self-insurance in letter form together with a copy of statute authorizing this form of insurance.
3. Proof of insurance coverage will be provided to you prior to the time that t uipment is delivered to us.
By: t✓
Authorized Officlil
Date: V , 19 91
ESSENTIAL USE/SOURCE OF FUNDS LETTER
Gentlemen:
This confirms and affirms that the Equipment described in the Municipal Issse and Option Agreement referred to above (the "Agreement") is
essential to the function of the undersigned or to the service we provide to our citizens.
Further, we have an immediate need for, and expect to snake immediate use of, substantially all such Equipment which need is not temporary
or expected to diminish in the foreseeable future. Such Equipment will be used by us only for the purpose of performing one or more of our
governmental or proprietary functions consistent with the permissible scope of our authority. Specifically, such Equipment was selected by us
to be used as follows:
FIRST LINE FTRy. ry TRE FOR THE
The estimated useful life of such Equipment based upon manufacturer's representations and our projected needs is A 15 __YEARS__
Our source of funds for payments of the rent due under the Agreement for the current fiscal year is X PROPERTY TAX REVENUE____
We expect and anticipate adequate funds to be available for all future payments of rent due after the current fiscal year for the following reasons:
THE CITY OF TAMARAC IS A MUNICIPALITY WITH TAXING ABILITIES
Very truly yours,
—City of Tamarac FL Lessee
ay: [� .r aa/ 9/
Title:
5